LONDON—A stagnant German economy and sliding yen overshadowed buoyant tech earnings to send shares lower on Friday, with investors betting that next week’s batch of central bank meetings will point towards a levelling off in interest rates. Oil headed for a second week of declines after data on Thursday showing the U.S. economy slowing more…
German Gloom Dampens Stocks as Fed, ECB Meetings Beckon
April 28, 2023
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Jobless Claims Fall Again With Labor Market Churning Along
Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy. The number of Americans filing for jobless claims for the week ending April 22 fell by 16,000 to 230,000, the Labor Department reported Thursday. The four-week moving average…
US Economic Growth Slows Sharply in First Quarter As Interest Rates Rise
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. The Federal Reserve’s higher interest rates…
US Economic Growth Slows Sharply in 1st Quarter as Interest Rates Rise
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. The Federal Reserve’s higher interest rates…
US Economy Unexpectedly Slows to 1.1 Percent in First Quarter
The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. Growth in the real GDP was…
Deutsche Bank to Cut 800 Jobs After Strong 1st Quarter
April 27, 2023
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FRANKFURT—Deutsche Bank is to cut 800 jobs in a new cost-saving drive after reporting a bigger than expected rise in profit for the first quarter, a volatile period globally for finance companies. Germany’s biggest bank produced solid earnings at a time when banks had to be rescued in the United States and in Switzerland. The…
Oil Prices Stabilize After Hefty Losses
April 27, 2023
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LONDON—Oil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month. Brent crude was trading at $77.72 a barrel, up 3 cents, or 0.04 percent, by 1033 GMT, while U.S. West Texas Intermediate crude rose 1 cent or 0.01 percent…
Stock Market Today: Global Shares up Ahead of US GDP Update
April 27, 2023
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TOKYO—Global shares were mostly higher Thursday ahead of the release of data that are expected to show the world’s biggest economy slowing in the first quarter of the year. Shares rose in Paris, Frankfurt, Tokyo, Hong Kong, and Shanghai but fell in London and Sydney. U.S. futures and oil prices were higher. The U.S. economy…
Four in Ten Australians Skip Car Services Due to High Living Costs: Research
The cost of living crunch has forced Australian households to give up on many necessities, with car maintenance and repairs now making it into the list of slashed common expenses. According to new research by financial comparison website Finder, over four in ten Australians (45 percent) could not afford to keep their vehicles in good…
Business Investment Slumps as Orders for Capital Good Falls
Orders for American-made durable goods has fallen as business investments slump—a sign of an economic slowdown. The U.S. industrial sector has been falling into a slump after several years of rapid growth, with many economists viewing it as a prelude to a broader recession. Durable goods orders jumped by 3.2 percent in March but only by…
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